Pune: The supply shortage of wheat has caused a sharp increase in the prices of semolina (rava), refined flour (maida), and wheat flour (atta) across both wholesale and retail markets.
With demand outstripping supply and the festive season nearing, traders from Market Yard predict that these elevated prices are unlikely to come down anytime soon.
In the past 15 days, wholesale prices for semolina, refined flour, and wheat flour have seen an increase of ₹300 to ₹400 per quintal. Retail markets have followed suit, with prices rising by ₹5 to ₹6 per kilogram.
Traders note that the limited availability of wheat stock has caused these price hikes, and they expect prices to rise further until fresh wheat supplies enter the market, which usually happens by late January.
Currently, about 20 to 25 truckloads of semolina, refined flour, and wheat flour arrive in the wholesale market each day.
However, this quantity is insufficient to meet the growing demand, especially with upcoming festivals like Navratri, Dussehra, and Diwali.
The festive season typically sees an increase in the demand for these products, further adding to the strain on existing stocks.
Impact of Reduced Wheat Supply
The shortage of wheat stocks is not limited to Maharashtra. Major wheat-producing states such as Punjab, Haryana, Madhya Pradesh, and Gujarat are also facing reduced stockpiles.
Despite the reduced supply, consumer demand remains high, and is expected to increase even more during the festive season. With the next wheat harvest still several months away, traders say it is unlikely that prices will stabilize before fresh wheat hits the market in early 2024.
Sumeet Gundecha, a trader from Market Yard, explained that the prices of wheat-based products will likely continue to rise until new stocks arrive.
"We will all have to rely on the remaining old wheat stock until the new crop enters the market," Gundecha said. "Until then, consumers can expect the prices of semolina, refined flour, and wheat flour to remain high."
Wholesale Market Price Trends
In the past two weeks, the wholesale prices of key wheat products have significantly increased.
A 50-kg bag of refined flour, which was priced between ₹1,600 and ₹1,900 just two weeks ago, now costs between ₹1,800 and ₹2,100. Similarly, semolina prices have risen from ₹1,600 to ₹1,800 per bag to ₹1,800 to ₹2,000. Wheat flour, previously priced at ₹1,600 to ₹1,800, has now reached up to ₹2,075 per 50-kg bag.